13F HOLDINGS REPORT

JMG Financial Group, Ltd.

Quarter ended Q4 2025 · Filed February 10, 2026 · Accession 0001314404-26-000002

Total Value

$3.56B

Positions

126

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (126)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	Vanguard S&P 500 ETF	922908363	1,339,289	$839.9M	23.61%
2	Vanguard Mid Cap Vipers	922908629	1,350,785	$392.0M	11.02%
3	Vanguard MSCI EAFE ETF	921943858	6,204,833	$387.6M	10.89%
4	Schwab US Large Cap ETF	808524201	8,445,906	$227.3M	6.39%
5	Dimensional US Small Cap Value	25434V815	5,832,420	$191.8M	5.39%
6	SPDR S&P 500 ETF Trust	SPY	254,100	$173.3M	4.87%
7	Vanguard MSCI Emerging Markets	922042858	2,882,279	$155.0M	4.35%
8	DFA International Core Equity	25434V799	4,432,470	$152.7M	4.29%
9	Dimensional Global Real Estate	25434V658	5,701,658	$150.6M	4.23%
10	Schwab International Equity ET	808524805	4,240,654	$101.9M	2.87%
11	Schwab US Mid Cap ETF	808524508	3,148,832	$94.7M	2.66%
12	iShares Russell Midcap	464287499	868,158	$83.6M	2.35%
13	Vanguard Small Cap Value	922908611	388,085	$82.2M	2.31%
14	Dimensional Emerging Markets C	25434V732	2,129,625	$70.4M	1.98%
15	Vanguard Total Stock Market Vi	922908769	150,646	$50.5M	1.42%
16	Vanguard Large Cap	922908637	147,550	$46.4M	1.31%
17	Schwab Emerging Markets	808524706	964,691	$31.6M	0.89%
18	iShares Trust S&P 500 Index	464287200	41,070	$28.1M	0.79%
19	Vanguard REIT Vipers	922908553	247,483	$21.9M	0.62%
20	iShares Russell 1000 Growth	464287614	34,995	$16.6M	0.47%
21	Vanguard FTSE All-World EX-US	922042775	220,615	$16.2M	0.46%
22	iShares Russell Midcap Growth	464287481	113,520	$15.5M	0.44%
23	iShares Russell 1000 Index Fun	464287622	36,970	$13.8M	0.39%
24	Vanguard Growth Vipers	922908736	26,912	$13.1M	0.37%
25	Vanguard Mid Cap Value	922908512	59,509	$10.6M	0.30%
26	iShares Russell Midcap Value	464287473	74,632	$10.5M	0.30%
27	Vanguard Global Ex US Real Est	922042676	206,702	$9.5M	0.27%
28	Vanguard Value	922908744	49,185	$9.4M	0.26%
29	Schwab US Large Cap Growth ETF	808524300	259,882	$8.5M	0.24%
30	Invesco QQQ Trust	IVZ	12,725	$7.8M	0.22%
31	Schwab US Broad Market ETF	808524102	296,375	$7.8M	0.22%
32	iShares Russell 2000 Index	464287655	31,219	$7.7M	0.22%
33	Vanguard Mid Cap Growth Index	922908538	26,029	$7.3M	0.20%
34	Dimensional US Small Cap ETF	25434V500	94,533	$6.6M	0.19%
35	iShares Russell 1000 Value Ind	464287598	24,833	$5.2M	0.15%
36	Vanguard Small Cap	922908751	19,782	$5.1M	0.14%
37	iShares Core US Growth ETF	464287671	26,307	$4.4M	0.12%
38	SPDR S&P MidCap 400 ETF Trust	MDY	7,053	$4.3M	0.12%
39	iShares MSCI EAFE Index Fund	464287465	43,803	$4.2M	0.12%
40	Vanguard Dividend Appreciation	921908844	18,526	$4.1M	0.11%
41	Sector SPDR Technology Select	81369Y803	26,153	$3.8M	0.11%
42	iShares Tr S&P 500/Barra Growt	464287309	28,132	$3.5M	0.10%
43	iShares Trust S&P SmallCap 600	464287804	27,401	$3.3M	0.09%
44	iShares Russell 3000 Index	464287689	7,267	$2.8M	0.08%
45	Vanguard ST Inflation Protecte	922020805	55,487	$2.7M	0.08%
46	iShares ESG Aware MSCI EAFE ET	46435G516	27,643	$2.6M	0.07%
47	Schwab US REIT ETF	808524847	116,416	$2.4M	0.07%
48	Schwab US Tips ETF	808524870	91,684	$2.4M	0.07%
49	Schwab US Aggregate Bond ETF	808524839	103,504	$2.4M	0.07%
50	Dimensional International Valu	25434v807	48,474	$2.4M	0.07%
51	iShares Russell 2000 Growth	464287648	6,663	$2.2M	0.06%
52	Berkshire Hathaway Cl B	BRK-A	4,201	$2.1M	0.06%
53	iShares Core US Aggregate Bond	464287226	20,633	$2.1M	0.06%
54	iShares Russell 2000 Value	464287630	10,599	$1.9M	0.05%
55	Vanguard Total International B	92203j407	38,509	$1.9M	0.05%
56	Microsoft Corp	MSFT	3,820	$1.8M	0.05%
57	Schwab US Dividend Equity ETF	808524797	66,964	$1.8M	0.05%
58	iShares Core MSCI EAFE ETF	46432f842	20,094	$1.8M	0.05%
59	Alphabet Inc Cl A	GOOG	5,740	$1.8M	0.05%
60	IShares Core MSCI Emerging ETF	46434g103	25,299	$1.7M	0.05%
61	Schwab US Small Cap ETF	808524607	57,739	$1.6M	0.05%
62	iShares DJ Select Dividend Ind	464287168	11,177	$1.6M	0.04%
63	iShares ESG Aware MSCI USA ETF	46435G425	10,399	$1.5M	0.04%
64	Dimensional US Real Estate ETF	25434V823	66,832	$1.5M	0.04%
65	iShares ESG Aware MSCI ETF	46434G863	33,148	$1.5M	0.04%
66	iShares MSCI ACWI Index Fund	464288257	10,000	$1.4M	0.04%
67	Apple Inc	AAPL	5,067	$1.4M	0.04%
68	iShares MSCI Emerging Markets	464287234	23,441	$1.3M	0.04%
69	Schwab US Large Cap Value ETF	808524409	42,933	$1.3M	0.04%
70	iShares MSCI Minimum Volatilit	46429b697	12,847	$1.2M	0.03%
71	iShares S&P Mid Cap 400 Index	464287507	17,491	$1.2M	0.03%
72	Invesco S&P 500 Equal Weight E	IVZ	5,877	$1.1M	0.03%
73	iShares Core MSCI Total Intl S	46432f834	12,362	$1.0M	0.03%
74	iShares S&P Mid Cap 400 Value	464287705	7,771	$1.0M	0.03%
75	SPDR Gold Shares	GLD	2,527	$1.0M	0.03%
76	SPDR S&P Dividend ETF	78464a763	6,176	$859,464	0.02%
77	Vanguard Total Bond Market ETF	921937835	10,991	$814,103	0.02%
78	iShares Trust S&P 500/Barra Va	464287408	3,783	$802,324	0.02%
79	iShares MSCI Emerging Markets	464286533	11,283	$722,541	0.02%
80	Schwab Fundamental US Small Co	808524763	22,774	$717,599	0.02%
81	Vanguard Total World Stock Ind	922042742	4,921	$694,147	0.02%
82	iShares ESG Advanced MSCI EAFE	46436E759	9,190	$690,720	0.02%
83	iShares ESG Advanced MSCI USA	46436E767	11,633	$669,828	0.02%
84	TransDigm Group Inc	TDG	483	$642,318	0.02%
85	Vanguard Total International S	921909768	8,388	$632,791	0.02%
86	Schwab Fundamental Large Cap I	808524771	22,493	$612,035	0.02%
87	iShares MSCI EAFE Small Cap In	464288273	7,541	$584,654	0.02%
88	MasterCard Inc	MA	1,019	$581,695	0.02%
89	Exxon Mobil Corporation	XOM	4,145	$498,809	0.01%
90	SPDR Financial Select Sector E	81369Y605	8,554	$468,503	0.01%
91	Schwab Fundamental Intl Large	808524755	10,313	$466,246	0.01%
92	Costco Wholesale Corp	22160K105	528	$455,316	0.01%
93	iShares MSCI EAFE Minimum Vola	46429b689	5,231	$451,174	0.01%
94	Vanguard Russell 1000 Growth	92206c680	3,689	$449,083	0.01%
95	Amazon Communications	AMZN	1,915	$442,020	0.01%
96	iShares Barclays US Treasury I	464287176	4,007	$440,409	0.01%
97	iShares S&P Small Cap 600 Valu	464287879	3,842	$436,959	0.01%
98	iShares MSCI EAFE Growth Index	464288885	3,424	$390,062	0.01%
99	SPDR S&P 500 Value ETF	78464a508	6,695	$380,343	0.01%
100	Goldman Sachs Active Beta ETF	NVGLF	2,865	$379,225	0.01%
101	iShares Lehman 3-7 Year Treasu	464288661	2,995	$357,453	0.01%
102	iShares Core S&P Total US Stoc	464287150	2,376	$353,287	0.01%
103	Alphabet Inc Cl C	GOOG	1,120	$351,456	0.01%
104	WidsomTree US Large Cap Divide	WT	3,902	$343,715	0.01%
105	Johnson & Johnson	JNJ	1,652	$341,795	0.01%
106	Vanguard Mega Cap Growth ETF	921910816	826	$340,948	0.01%
107	Bluerock Private Real Estate F	09631P102	20,785	$311,775	0.01%
108	Home Depot Inc	HD	850	$292,485	0.01%
109	Vanguard Small Cap Growth	922908595	935	$282,487	0.01%
110	Procter & Gamble Co	742718109	1,887	$270,384	0.01%
111	iShares Bitcoin	IBIT	5,340	$265,131	0.01%
112	iShares Core Growth Allocation	464289867	3,996	$259,780	0.01%
113	SPDR S&P International Small C	78463x871	6,329	$258,603	0.01%
114	Vanguard Utilities ETF	92204a876	1,342	$248,355	0.01%
115	OShares FTSE Russell Small Cap	6711op100	5,579	$244,019	0.01%
116	SPDR Portfolio Developed World	78463x889	5,271	$234,085	0.01%
117	Union Pacific Corp	UNP	1,000	$231,320	0.01%
118	iShares Core Dividend Growth	46434v621	3,300	$229,086	0.01%
119	SPDR S&P 500 Growth ETF	78464a409	2,136	$227,911	0.01%
120	Fidelity National Information	31620m106	3,419	$227,227	0.01%
121	Vanguard Tax Exempt Bond Index	922907746	4,386	$220,572	0.01%
122	Akre Focus ETF	74316p579	3,334	$218,410	0.01%
123	Vanguard S&P Mid Cap 400 Value	921932844	2,086	$210,707	0.01%
124	iShares MSCI All Country World	464286525	1,738	$206,388	0.01%
125	iShares MSCI EAFE Value Index	464288877	2,847	$203,317	0.01%
126	Merck & Co Inc	MRK	1,925	$202,626	0.01%